Avoiding cuts to essential services in New York City such as police, fire and sanitation, Assembly Speaker Sheldon Silver, Ways
and Means Committee Chair Herman D. Farrell, Jr. and Cities Committee Chair James Brennan announced today that the SFY
2009-2010 budget would provide $328 million in Aid and Incentives to Municipalities (AIM), helping to maintain vital services for city
residents. The assistance, which was provided in part by federal stimulus funds, also averts various fees and tax increases that
would have a direct impact on working families in New York City.

The budget will help New York City pay off $170 million in debt by providing funds for the prior refinancing of Municipal Assistance
Corporation (MAC) bonds.

"It has been decades since New York City has faced proposed cuts of the magnitude brought on by this economic
downturn," said Silver (D-Manhattan). "Despite the challenges the economy presents us, our budget needed to help
New York City avoid drastically reducing police, firefighters and sanitation services, or passing the burden to working families
through various fee increases. New York City must remain attractive for economic development and affordable for residents."

"While this budget provided funding for education, CUNY and the New York City Housing Authority, the Aid and Incentives to
Municipalities revenue ensures that the critical daily services needed in New York City will not be in jeopardy," said
Farrell (D-Manhattan).

"The AIM program, once known as revenue sharing, is critical to provide New York City the financial flexibility it needs to
continue providing the basic services of city government," said Brennan (D-Brooklyn). "These services include
education, public safety, health care and many other important programs. That is why the full restoration of $328 million in
assistance is so important."

The SFY 2009-2010 Budget helps New York City residents by:

Restoring $5 million for reimbursement to New York City for adult homeless shelters.

Restoring $5 million to the Homeless Prevention Program to provide eviction prevention services for New York City families.

Rejecting fee increases of $5 to $40 for processing or obtaining birth, death and marriage certificates from the city Clerk's Office
of the city Department of Health and Mental Hygiene.

Rejecting a fee increase of $40 that the city could impose on owners participating in the rent-stabilization program.